J. Scott Applewhite/AP Images
Democrats and Republicans have been arguing about how large companies will spend gains from the GOP tax law's huge corporate tax cut.
In the first quarter, spending by S&P 500 companies supported both parties' arguments.
Share buybacks hit the highest level in a single quarter, supporting the Democratic argument that the money will go to shareholders and not workers.
Capital expenditures also surged to the highest level for any first quarter on record, supporting the GOP's argument that the law will boost economic growth.
The biggest companies in the US made a...Read more ...